daniel chigunwe
Francis Gakanje
Business Reporter
This year’s SADC Industrialisation Week breaks new ground by hosting a dedicated investment forum day, according to Confederation of Zimbabwe Industries (CZI) chief executive officer Ms Sekai Kuvarika.
“There is some innovation with this SADC Industrialisation Week (SIW) through the addition of the special day which is the investment forum to be held on the 29th of July 2024. Its the first time that we are having that as part of the SIW,” she said.
“The investment forum is probably one of the most interesting parts of the week for the private sector, said Ms Kuvarika.
She said development finance institutions (DFIs), local banks, private equity firms and venture capitalists from the region will also participate at the forum.
“At the end of the day industrialisation is really about business and doing business in the region and how we can invest in each other’s country.”
This comes as the SADC region is prioritising manufacturing to achieve goals set out in its industrialisation strategy and to establish the region as a hub for manufacturing that can capitalise on the opportunities presented by the African Continental Free Trade Area (AfCFTA).
The event running from July 29 to August 2, 2024 also aims to enable the region’s IPAs to attract investments in manufacturing, both from within the SADC region and from external sources.
It shall also focus on promoting and incentivising various manufacturing activities in the region including the expansion and modernising of existing plants.
The same scope shall be on new manufacturing investments, small and medium enterprise (SME) startups, agro-processing, high-tech manufacturing and the production of intermediate goods.
(CZI), which is organising the SIW, has been extending invitations to investment promotion authorities from across the region to come and showcase what they are doing to promote investment in manufacturing.
The business member organisation is hoping all 15 investment promotion authorities will participate and be present. Belief is that this will generate leads for manufacturing investments that can be followed up after the event.
“We are hoping that they will all be here and people can come and visit all 15 of them in one place,” added the CEO.
“So spotlighting investment promotion through the SIW is one of the great initiatives that the private sector is really looking forward to,” said Ms Kuvarika while giving remarks at a meeting organised by the Ministry of Industry and Commerce to update SADC ambassadors based in the country on the SADC Industrialisation Week, Investment Conference and Exhibition.
Addressing the same meeting Ministry of Industry and Commerce Permanent Secretary, Dr Thomas Utete-Wushe said the convention would target participation by the private sector players particularly those involved in the agro-processing, mineral beneficiation, pharmaceutical, financial, consumer, capital goods and infrastructure sectors.
“The SADC Industrialisation Week is targeting 300 participants, mainly the private sector, as well as other stakeholders from the public sector, academia, and development partners. For the exhibition, the target is 150 companies.”
Out of these, a total of 100 stands will be reserved for local companies, innovation hubs, SMEs, women, and youth exhibitors whilst 50 will be reserved for the other 15 Member States, with each member state allocated at least three booths.
The SADC industrialisation week (SIW) serves as a platform that brings together a wide range of stakeholders who are dedicated to advancing the industrialisation agenda in the region.
Online Reporter